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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net Income $ 18,037 $ 24,325
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 685 647
Deferred income tax expense 394 146
Net amortization of investment premiums and discounts 580 1,951
Net amortization of deferred loan costs and fees 289 197
Amortization of subordinated debt issuance costs 140 139
Provision for credit losses 917 (1,199)
Bank-owned life insurance income (1,551) (1,020)
Net loss on sale of available-for-sale securities 0 251
Net gain on equity securities (37) (22)
Net loss on sale of foreclosed real estate 0 5
Net increase (decrease) in accrued income taxes 33 (2,089)
Net increase in accrued interest receivable (4,513) (5,075)
Net increase in prepaid expenses and other assets (689) (767)
Net (decrease) increase in accrued expense and other liabilities (440) 239
Net cash provided by operating activities 13,845 17,728
Securities available-for-sale:    
Proceeds from maturities 104,739 180,225
Proceeds from sale of securities 0 1,675
Purchases of securities (170,192) (104,456)
Proceeds from principal payments on securities 2,498 10,446
Securities held-to-maturity:    
Proceeds from maturities 36,394 49,576
Purchases of securities (24,341) (42,060)
Proceeds from principal payments on securities 12,796 16,133
Net (purchase) redemption of Federal Home Loan Bank Stock (537) 5,342
Purchase of long-term certificate of deposit 0 (1,225)
Maturity of long-term certificates of deposit 1,480 735
Surrender of bank owned life insurance 23,100 0
Purchase of bank owned life insurance (23,104) 0
Net increase in loans receivable (69,478) (158,426)
Proceeds from sale of foreclosed real estate 0 63
Purchases of premises and equipment (1,308) (817)
Net cash used in investing activities (107,953) (42,789)
Cash flows from financing activities:    
Net increase (decrease) in short-term advances 2,000 (123,700)
Proceeds from long-term advances 34,156 0
Payment of cash dividends (2,616) (1,645)
Net increase in deposits 119,946 259,719
Net cash provided by financing activities 153,486 134,374
Net increase in cash and cash equivalents 59,378 109,313
Cash and cash equivalents at beginning of period 196,445 69,009
Cash and cash equivalents at end of period 255,823 178,322
Non-cash investing activities:    
Foreclosed loans transferred to foreclosed real estate 0 462
Cash paid during period for:    
Interest 38,357 14,415
Income taxes $ 1,525 $ 6,248